towards escalation. Mr. Banati referred to Clause 7 of
the letter dated 24th January 1998, which reads as under:-
"7. No escalation whatsoever shall ... price quoted by you is firm."
16. As regards the above clause, Mr. Thomas has rightly pointed out that
escalation would not be payable
obligations on account of increase in price
of raw material and costs, then in the absence of escalation clause, the
arbitrator had the authority ... learned counsel for the CWC, the absence of
escalation clause precluded the learned Arbitrator from granting escalation.
The question here, however, is different viz., whether
lakhs paid by NTPC,
the balance claim as per escalation clause worked out to Rs.82,91,597 but was
limited to Rs.50 lacs ... lacs was paid to the Petitioner through
67 escalation bills in terms of the clause for price adjustment. Rs. 93,15,376
stood paid till
stated that the above policy circulars did not envisage any escalation in prices. All that was mentioned was that the rates applicable would be those ... behalf of the exporters is that there was no clause in the contract permitting price escalation. The contention of the FCI on the other hand
comprised civil work,
plumbing works, extra work, and escalation as per price variation
adjustment („PVA‟) clause. It was submitted that the learned
Arbitrator failed
balance
payment of labour charges on account of escalation in prices as
envisaged under Clause 10C of the Agreement. It was contended by the
Appellant ... This is really about
the escalation of prices as the result of the delay in completion of the
work. Clause 10 C requires
actual date of the completion. There was to be
no escalation on whatsoever account till the completion of contract in its
entirety. It is submitted ... similar circumstance where
the clause in the contract stated that the price was firm and "not subject to
any escalation under whatsoever ground till
that
Clause XVI of the contract does not exclude the payment of escalation due
to increase in the administered price increase ... price escalation, the
Contractor's claim as a result thereof could not be turned down on account
of the absence of an escalation clause
above submissions have been considered. Clause 16.1, which is the
relevant clause, reads as under:
"16.1. Liquidated damages for delay in delivery and commissioning ... exceeding 5% (five per cent) of the price payable
under Clause 3 (including necessary facilities and price escalations
paid)."
13. The above clause
time, Respondent No. 1 would be entitled to escalation
notwithstanding absence of any clause in that regard. Reliance is placed on
the judgment ... categorically stating
as under:
"the clause/clauses under which the escalation on
account of rise in petroleum prices has been claimed
may be cited
